VENTURE GLOBAL INC
VG
Communication Services
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Venture Global Inc. (NYSE: VG) is the second-largest LNG exporter in the United States, operating liquefied natural gas export terminals in Louisiana. The company's Calcasieu Pass facility began production in 2022, and the Plaquemines LNG terminal commenced operations in December 2024 with approved peak capacity of 27.2 million metric tonnes per annum (mtpa), with expansion plans for an additional 18.6 mtpa. Venture Global reported $13.8 billion in revenue and $6.3 billion in adjusted EBITDA for 2025 (176% revenue growth year-over-year). The company has faced over 2,000 documented air permit violations at Calcasieu Pass per the Louisiana Bucket Brigade, and sought to increase permitted flaring hours from 60 to 500 (833% increase) and total air emissions from 3.9 to 4.6 million tons (17% increase). The Plaquemines site consumed up to 100,000 gallons of freshwater per day during construction. Venture Global IPO'd on the NYSE in early 2025 with a market cap exceeding $36 billion.
Research Sources
2 organizations
Related Exclusions
Wondering what we do invest in?
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.